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City Interactive Goes Public

by Rainier on Jan. 29, 2007 @ 1:36 a.m. PST

City Interactive announced the signing of an IPO agreement with the IDM S.A. brokerage. Planned for the second quarter of 2007, the IPO will turn the Polish developer into a public company whose shares will be traded on the Warsaw Stock Exchange.

“We’re already in the advanced stages of turning City Interactive into a public company,” says company C.E.O. Marek Tyminski. Currently, City Interactive is completing the process of merging with Onigames, a games distributor that’s part of City Interactive’s sister company, Onimedia. Once the IPO has taken place, the newly established City Interactive S.A. will become a fully fledged publisher of entertainment software developed in-house as well as licensed from other game developers. These will be distributed worldwide, naturally including Poland.

“Our goal is to become one of the world’s leading console and PC game companies in the value segment of the market,” says Marek Tyminski. “Becoming a public company will provide us with the financial muscle needed to achieve this ambitious goal, and will improve even further our standing and credibility with suppliers, clients, and business partners in Poland and around the world.”

At present, City Interactive and its financial advisors are finalizing the IPO prospectus. The legal aspects of the undertaking are handled by the renowned Warsaw law office headed by professor Marek Wierzbicki, with the firm’s audit being conducted by Misters Audytor, also of Warsaw, Poland.

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